- Leading cryptocurrency exchange, Coinbase, has announced futures trading for three altcoins and has added a new decentralized exchange altcoin based on Solana to its listing roadmap.
- Coinbase is also planning to launch a service for Australia’s retirement sector.
- The exchange will list futures for Ondo Finance (ONDO), Pyth Network (PYTH), and ZetaChain (ZETA).
Coinbase announces futures trading for three altcoins and adds a Solana-based DEX altcoin to its listing roadmap, while also eyeing Australia’s retirement sector.
Coinbase to List ONDO, PYTH, and ZETA in Futures Trading
As exchanges continue to update their listings, Coinbase International, the global arm of Coinbase, has been drawing attention with its futures trading lists. In a recent development, Coinbase announced that it will list Ondo Finance (ONDO), Pyth Network (PYTH), and ZetaChain (ZETA) in futures trading. According to the announcement, the exchange will start trading these three altcoins on May 23, 2024, at 12:30 PM TSİ.
Coinbase Adds Solana-Based Altcoin to Listing Roadmap
In addition to the futures trading announcement, Coinbase also revealed that it has added a new altcoin to its listing roadmap. The exchange plans to list Drift Protocol (DRIFT), a decentralized exchange altcoin based on Solana, in the future. Drift is an open-source DEX that allows for transparent and unsupervised trading.
Coinbase Targets Australia’s Retirement Market
In a recent interview with John O’Loghlen, the Asia-Pacific General Manager of Coinbase, it was revealed that the exchange is planning to launch a new service targeting Australia’s growing Self-Managed Superannuation Funds (SMSFs). Data from the Australian Tax Office (ATO) shows that SMSFs, which represent about a quarter of Australia’s $2.5 trillion retirement market, have allocated approximately 1 billion Australian dollars ($664 million) to digital assets.
Conclusion
These developments highlight Coinbase’s aggressive expansion strategy, not only in terms of the assets it offers for trading but also in its efforts to tap into new markets such as Australia’s retirement sector. However, the volatile nature of the crypto market and its checkered past may pose challenges as traditional institutional investors in Australia remain cautious.
